Bank of China has opened two subsidiaries in Switzerland, becoming the first Chinese banking group to establish a presence in the country, the organization announced Friday.
The bank said in a press release that it has received approval from the Swiss Federal Banking Commission to open the two subsidiaries.
Tags: bank, BOC, Finance
China Merchants Bank will ensure that 40 percent of its new loans will go to small and medium-sized enterprises next year, the bank said yesterdaay.
The bank said it will make every effort to grow the SME loan business despite the global financial crisis.
“Small players are hard hit amid the impact from the global financial crisis [...]
The Bank of China, one of the four state-owned commercial banks in China, will start its business in Brazil in March 2009, the bank’s general manager ZhangJianhua said Thursday.
The decision to operate in Brazil was made last year and the authorization was given by Brazil’s President Luiz Inacio Lula da Silva earlier this month.
Tags: bank, [...]
Not content to just sit idly by during the current sluggish stock market environment, China Everbright Bank has allied with other partners to expand its client base and prepare for a recovery.
The Beijing-based bank has tied up with Shenyin and Wanguo Securities and Ctrip.com to launch a co-branded debit card yesterday in Shanghai.
Tags: bank, Finance
China’s top commercial banks have vowed to support the country’s grand railway projects by forging strategic ties with the railway ministry, the Shanghai-based Oriental Morning Post reported on Tuesday.
Industrial and Commercial Bank of China (ICBC), the country’s largest lender, announced yesterday that it has inked a strategic cooperative agreement with the Ministry of Railways (MOR) [...]
The unfolding global recession ought to resolve one of the great known unknowns about China. How will its supposedly strong banks fare when the going gets tough?
Skeptics have long identified the financial system as a weak link. Despite a bailout that started a decade ago costing perhaps $500 billion, China’s banks would be exposed by [...]
